Quay deal for Penna
20 November 2009
Global HR consulting group, Penna Plc has concluded on a deal to expand within Commercial Quay in Leith. Earlier this year, Penna, an existing tenant within the development, purchased the business and assets of Barkers Group Ltd and has taken an additional suite of 2,170 sq ft to accommodate their growing business, relocating the former Barkers team from Edinburgh City Centre to Leith.
Matthew Cheyne at M7 Real Estate commented on the deal: “I am delighted that Penna wished to expand at Commercial Quay and that we had the flexibility to be able to accommodate them. Their expansion follows a number of lease extensions and renewals by tenants in the development which further demonstrate the value for money that these offices provide and are testimony to the letting team’s ‘can do’ attitude to prospective tenants’ requirements.”
Commercial Quay is a substantial 85,000 sq ft mixed-use property situated off Commercial Street in Leith. The building, a Grade B listed former bonded warehouse, provides restaurant and retail premises at ground floor, with three upper levels of office accommodation offering a variety of suite sizes. It is home to occupiers including Campbell & Arnott Architects, Cisco Systems, Paterson SA Hairdressing and award winning Michelin-starred restaurant, The Kitchin.
Office suites ranging from 1,400 sq ft up to 12,450 sq ft with on-site parking and a restaurant/retail unit of 2,500 sq ft remain available within Commercial Quay on flexible terms.
Ryden and DTZ acted as joint letting agents on behalf of M7 Real Estate.
